Asia's economic downturn hurts Malaysia

Once-robust economy feels effects of region's slowdown, as government is urged to tackle corruption and fix debt issues

Malaysia's once robust economy is feeling the effects of Asia's economic downturn.

Ratings Agency Fitch has revised the country's outlook from stable to negative, and the central bank has downsized its growth forecast for this year.

Corruption is a big concern. Experts say if the government truly wants to solve its debt problems, it should start by stopping waste of money through overspending on government projects and introducing transparency in spending.